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Mike Ashley has taken a big leap forward in his campaign to join the board of Findel as chairman after City heavyweights Schroders and Toscafund declared their support for the sportswear billionaire.

Sports Direct, the sports chain Mr Ashley founded and remains majority investor in, bought a stake in Findel last September and has rapidly built its position in the catalogue and online retailer to almost 30pc.

Last year Mr Ashley tried to put a representative, Ben Gardener, on to Findel’s board of directors to wield influence about a potential business agreement, but was rebuffed by 81pc of the shareholders.

However, it now appears that major investors Toscafund and Schroders are supporting the...